S IMMO AG sells Hotel Zwei

Stock-exchange listed real estate company S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) has started off 2015 with a successful sales deal. The company sold the hotel at the Viertel Zwei complex in Vienna to the German Deka Immobilien GmbH for roughly EUR 35m.

Ernst Vejdovszky, chairman of S IMMO AG’s Management Board, comments on the deal: “Hotel Zwei is an outstanding project. I am certain that the new owner will be more than satisfied with the property. We are still invested in the site with the OMV headquarters Hoch Zwei and Plus Zwei.”

The four-star hotel was built in 2008 and has 244 rooms, seven suites, and 136 parking spaces in an underground garage. It is leased to operator Realotel W Hotelbetriebsgesellschaft mbH, a company of Bierwirth & Kluth Hotel Management GmbH, and is being run as a Courtyard by Marriott under a franchise agreement. The property is located in the established Viertel Zwei office and residential complex in Vienna’s second district.  The hotel was certified with the status “excellent” by BREEAM in the middle of 2014.